Navigating Probation Periods and Bond Agreements: Resignation Dilemma Insights

Dear All,

I have been working in an IT company for 5 months and I would like to resign from my position due to personal issues. However, as I am under a 2-year bond, they are asking me to pay 50K if I break the contract. Could you please advise me on this?

Thanks

You have knowingly entered into a bond, which is a legal document. Now you are looking for escape routes. Did this personal problem come up suddenly?

One must live up to commitments entered into voluntarily. Now, did the company give you any special training for the job? If so, the company will be able to recover training costs from you.

No special training is given; we have been trained and guided by our seniors. It is very difficult for me to continue here. I have already discussed my problem here, but our HR is not agreeing and is asking me to pay the amount and leave.

At the outset, I would like to help, but the relationship between you and the company is not clear. Secondly, the subject matter of the bond is also not specified. Unless the details or language of the bond are studied, it would be impossible to advise on this subject. However, I would suggest that if the company has a brand name, then you should bear this burden. Otherwise, it will be very difficult for you once the bond is broken and your personal record is marred. Please be cautious while dealing with this as it is a question of your life. Remember, this will have a long-term impact on your career.

Even then, if you wish, I would suggest providing details of the bond. Without such details, it will mislead you.

With Warm Regards.

Until the terms of the bond are known, it will be very difficult to provide any view. Please read and understand every clause of the bond to assess if there is a chance to exit smoothly. As the other member rightly pointed out, since the bond was mutually agreed upon and signed, the exit should occur under mutually agreeable conditions.

Hi,

Did you sign the agreement on bond paper or on the company letterhead? Nowadays, signing a contract on the company letterhead is also termed as "bond." Again, many employees who have personal emergencies end up in another company. Please give us some clarity.